Some users have asked us about the sudden increase in WRX circulating supply. We’d like to share an important clarification regarding the circulating supply calculation of WRX tokens.
We have moved 35,083,333 WRX which is reserved for trading fees to another wallet to ensure that WRX is available to use as fees any time. We want to clarify that it is NOT unlocked for sale. It is reserved to be used as trading fees only.
We had allocated 11.1% of total WRX supply, ie., 111,000,000 WRX out of 1,000,000,000 WRX to be distributed among our early adopters. We had announced on 24th January 2020 with details of the unlock date and amount for these 111,000,000 WRX tokens. It’s as follows:
- 5,750,000 WRX as initial unlocked supply on Day Zero
- 35,083,333 WRX as locked for trading fees
- 35,083,333 WRX as locked for fixed periodic vesting
- 35,083,333 WRX as max volume unlock
From the above schedule, it’s clear that we unlocked 40,833,333 WRX on 29th February 2020 including 35,083,333 WRX released but reserved to be used as trading fees on WazirX.
It is difficult for us to predict the trading pattern of users, and when a user would use WRX as fee. We have seen our users actively use WRX to pay trading fees. Hence, we have moved 35,083,333 WRX which is reserved for trading fees to another wallet to ensure that WRX is available to use any time. We want to clarify that it NOT unlocked; it is still reserved to be used only as trading fee, and traders are continuing to use WRX for fee.
We want to clarify that token allocation, and release schedule for everything else - Launchpad sale, Private sale, Foundation, Product & marketing, Partnerships & ecosystem, and WRX trade mining remains absolutely unchanged.
We have been very transparent about our release schedule since the beginning. Meanwhile, we’re working with Binance to correct the research report and will keep you posted.
If you have any questions, please write to us. Cheers!